Swiss National Bank raised its holdings in shares of nCino, Inc. (NASDAQ:NCNO – Get Rating) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,100 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Swiss National Bank owned 0.12% of nCino worth $3,519,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of nCino by 32.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,774,524 shares of the company’s stock worth $196,969,000 after acquiring an additional 1,430,585 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of nCino by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company’s stock worth $238,653,000 after buying an additional 1,143,370 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of nCino by 29.4% in the 3rd quarter. BlackRock Inc. now owns 3,095,956 shares of the company’s stock worth $105,602,000 after buying an additional 704,230 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of nCino by 30.9% in the 1st quarter. Wasatch Advisors Inc. now owns 1,190,126 shares of the company’s stock worth $48,771,000 after buying an additional 280,692 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in shares of nCino by 33.6% in the 1st quarter. Eaton Vance Management now owns 845,615 shares of the company’s stock worth $34,654,000 after buying an additional 212,594 shares during the last quarter. Institutional investors own 88.69% of the company’s stock.
Analyst Ratings Changes
NCNO has been the topic of a number of research analyst reports. Barclays cut their price target on shares of nCino from $35.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 29th. Truist Financial cut their price target on shares of nCino from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, March 29th. Piper Sandler reissued a “neutral” rating and issued a $22.00 price target on shares of nCino in a report on Wednesday, March 29th. Morgan Stanley downgraded shares of nCino from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $27.00 to $25.00 in a report on Tuesday, April 4th. Finally, Stephens dropped their price objective on shares of nCino from $33.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, March 29th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.67.
Insider Activity at nCino
nCino Stock Down 0.6 %
Shares of NCNO opened at $25.53 on Monday. The business’s 50-day moving average price is $23.61 and its 200-day moving average price is $25.76. nCino, Inc. has a twelve month low of $19.58 and a twelve month high of $39.83. The stock has a market cap of $2.86 billion, a PE ratio of -27.45 and a beta of 0.34.
nCino (NASDAQ:NCNO – Get Rating) last announced its earnings results on Tuesday, March 28th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. The company had revenue of $109.18 million during the quarter, compared to analysts’ expectations of $104.47 million. Analysts expect that nCino, Inc. will post -0.06 earnings per share for the current fiscal year.
nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.
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